America has long remained one of the most wasteful countries in the world, generating 239 million metric tons of garbage every year, about 1,600 to 1,700 pounds per person. While some view it as a threat to our environment and society, the solid waste management industry sees an opportunity.
“It’s a profitable industry,” according to Debra Reinhart, a member of the Board of Scientific Counselors for the EPA. “It’s a difficult industry but it is profitable if it’s done right.”
Two private companies, Waste Management and Republic Services, lead the solid waste management sector. Together they own about 480landfills out of the 2,627 landfills across the United States. The two companies have seen staggering performance in the market, with the stock prices of both doubling in the past five years. Both Waste Management and Republic Services declined CNBC’s request for an interview.
“They’ve learned how to be best-in-class businesses,” said Michael E. Hoffman, a managing director at Stifel Financial. “Their publicly traded stocks outperformed the market handily between 2015 and 2019 and underpinning it is a meaningful improvement in their free cash flow conversion.” The stocks have continued to outperform.
Tipping fees
Since its inception, landfills have made a majority of their revenue via tipping fees. These fees are charged to trucks that are dropping off their garbage based on their weight per ton.
In 2020, municipal solid waste landfills had an average tipping fee of $53.72 per ton. That translates to roughly $1.4 million a year in approximate average gross revenue for small landfills and $43.5 million a year for large landfills just from gate fees.
Tipping fees have seen steady growth over the past four decades. In 1982, the national average tipping fee sat at $8.07 per ton or about $23.00 when adjusted for inflation. That’s nearly a 133% increase in 35 years.
While tipping fees make landfills sound like a risk-free business, they are still quite an expensive investment. It can cost about $1.1 million to $1.7 million just to construct, operate and close a landfill. For this reason, private companies have replaced municipal governments to own and operate the majority of the landfills across the U.S.
“I think it’s because the trend has been to go larger and larger so the small neighborhood dump can’t exist because of the regulations and the sophistication of the design,” Reinhart said. “So we are tending to see large landfills, which do require a lot of investment upfront.”
Privatization of landfills
Private companies have also played an important role in discovering new ways beyond tipping fees to turn a profit out of garbage. Landfill mining and reclamation, a process of extracting and reprocessing materials from older landfills, is one of them.
In 2011, a private scrap metal company contracted with a nonprofit landfill in southern Maine to mine precious metals. In four years, they recovered more than 37,000 tons of metal worth $7.42 million.
But it isn’t always a success story. In 2017, the city of Denton, Texas, ended its landfill mining program before it could even start after realizing that the benefits weren’t worth its $4.56 million price tag. According to experts, economics is usually the biggest challenge to make landfill mining work.
“There’s virtually no way I can see how that makes money,” said Hoffman. “The commodity values would have to be at such higher levels than they are today for whatever it is you’re trying to get your hands on.”
Meanwhile, some experts argue that landfill mining can be profitable if done correctly by recovering more space for tipping fees.
“Many people are mining but they’re not reusing the space,” according to Sahadat Hossain, professor of civil engineering at the University of Texas at Arlington. “If you do the operation right, you’re never going to be involved and it will always make you money.”
Landfill gas to energy
Modern chemistry has also allowed landfills to be mined for energy, using methane gas that is produced from decaying trash. According to the U.S. Energy Information Administration, landfill gas generates about 10.5 billion kilowatt-hours of electricity every year. That’s enough to power roughly 810,000 homes and heat nearly 547,000 homes each year.
“The landfill gas operations that are known as low or medium DTU which are the predominant form of capturing the gas and turning it into electricity or steam and then selling it? Those are very good returns on capital projects,” Hoffman said.
While revenue from generating energy and fuel isn’t quite impressive, landfills that participate do benefit greatly from generous subsidies. The tipping fee, combined with various mining techniques and government subsidies have altogether transformed the landfill industry into a booming business.
The solid waste management industry will only continue to expand as long as there are those who view garbage as a resource rather than waste. Because when it comes to landfills, one man’s trash is quite literally another man’s treasure.
“Waste is not a waste, but it’s a resource,” emphasized Hossain. “World has limited resources. If we don’t reuse and recycle these, we cannot talk about a circular economy. That will always be a talk in the tabletop discussion.”
Tesla Cybertruck and the new Model 3 have both fallen short of the top marks in IIHS’ latest round of crash tests.
Over the years, Tesla has consistently earned top safety ratings from various agencies, but this time it could get it from IIHS.
The Insurance Institute for Highway Safety (IIHS) released its latest batch of safety ratings following a new wave of crash tests.
Two Tesla vehicles were part of the batch: the 2025 Cybertruck and 2025 Model 3.
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They both received “good” safety ratings from IIHS, but they fell short of being considered “top safety picks” due to some smaller issues.
For the Cybertruck, its headlights were rated “poor”:
The Cybertruck’s headlights were also downgraded because the low beams created excessive glare.
The overall crash test performance was almost entirely “good”:
Here’s a video of some of the Cybertruck crash tests:
IIHS mentions that this crash test is only relevant for the Cybertruck starting in April 2025 due to Tesla having made “changes to the front underbody structure” after that.
For Model 3, IIHS’ crash test concluded that there’s an elevated risk for rear passengers due to the seat belts:
In the case of the Model 3, however, measurements taken from the rear dummy indicate a somewhat elevated risk of chest injuries due to high belt forces.
The rest of the results from the crash tests were good:
Here are videos of the crash tests for the 2025 Tesla Model 3:
We’ve been following Rivian’s quest to develop an in-house electric two-wheeler for years now, dating back to 2022 when we spotted them poaching top electric bicycle talent from companies like Specialized. But despite years of development work, no one on the outside really knows what the company’s micromobility startup ALSO is truly working on. And thanks to several strange teaser videos shared by the apparent skunkworks program, we still don’t know.
We had a pretty good idea that the company has its sights set on an honest-to-goodness electric bicycle, at least based on what Rivian CEO RJ Scaringe said back in 2023.
Rivian spun out a startup called ALSO to focus its micromobility work, and they’ve been hard at work both on and offline. ALSO’s social media team has kept up a steady drip of eclectic teasers, often showcasing a single component without any explanation or background. And it appears they’ve spent big ad money on getting those teasers in front of a large audience.
For example, one post showcases the copper windings of two different motor stators, showcasing what appears to be two different sizes of relatively small-diameter hub motors, though perhaps one is the stator of a mid-drive motor. Two motors would be surprising on an electric bicycle. While it’s been done many times, dual motors are usually found on out-of-class e-bikes that are essentially small electric motorcycles skirting motorcycle laws. A single motor is plenty powerful for street-legal e-bikes, and thus dual motors would only seem necessary on something intended for more power than a typical electric bicycle.
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Another clip shows a control board that has a surprisingly large footprint for something that would conceivably be stored in the frame or body of a conventional electric bicycle. It also looks to have connections for two different motor phase wires, implying driving a pair of motors from the single board. Back in 2010, I headed up an electric bicycle startup developing a model with a completely enclosed front triangle, which could be a solution that would support housing such large-format electronic components within ALSO’s presumed e-bike.
A window in the large circuit board also gives us a partial view of a pair of wheels that seem roughly bicycle-sized, also revealing a conventional fork and disc brake rotor on the wheel.
The potential for dual motors and some large fairing to conceal that circuit board would imply the possibility of something larger than a typical e-bike, perhaps even a moped or light electric motorcycle. The same clip also appears to reveal an engineer working on a gray metal component that looks suspiciously like a rear swing arm, which would lead us to believe that the bike would feature rear suspension.
Despite some of those clues that would imply something bigger or more powerful than a typical e-bike, other teasers show people “riding” along a sidewalk on invisible bikes, miming pedaling actions, which would imply functional pedals. And another teaser displays a belt pulley of what could be a belt drive on the pedal drivetrain, though it could also be a final drive coming from a centrally mounted motor.
In yet another strange post, the bike is completely blurred out, but we can see a rider holding what are likely a set of handlebars awkwardly close to his waist, which would be a position more commonly seen on a standing electric scooter than on an e-bike or e-motorcycle. However, he may also be straddling the bike and simply standing closer to the bars.
He also appears to be wearing a jacket with back armor, something rarely seen among e-bike riders but much more common in the motorcycling world (though I’ve advocated for it on e-bikes, too).
On the other hand, the bike or skate helmet worn by the rider still implies that we’re back in the bike world, not the moto-world.
Keeping the hype train rolling, another short video shows a partial view of the battery in various stages of assembly. The cylindrical cells look like 18650 or 21700 cells, used in many electric vehicles, but most commonly light electric motorbikes and e-bikes. While the camera is too zoomed in to determine the size of the battery, it looks like the cells are arranged in a fairly tightly packed configuration with frequent and close-spaced reversing of the cells. This is done to weld the cells in series – a necessary step for increasing the voltage of the pack.
But the fairly small number of cells grouped together in a single orientation, perhaps as few as six (though it could be more due to the limited framing of the shot), would imply a somewhat small battery by motorcycle standards, potentially around 20Ah or less, if using relatively common 3.5Ah 18650 cells arranged in a 6p configuration. That puts us back in electric bicycle territory (or an underspec’d electric moped), though there could be multiple battery packs to increase the overall capacity.
But pushing back towards something larger is the sophisticated LED lighting setup, which uses two powerful LED segments to create what might be a high/low beam configuration. We rarely see such powerful lighting on electric bikes and find this setup more often on seated electric scooters and motorbikes. But then again, ALSO is part of Rivian and thus would easily benefit from Rivian’s automotive-level components and supply chain.
Then there’s a censored shot of two people on the bike in question, with a child strapped into a kid’s safety seat, implying a utility or cargo bike configuration that can allow for a passenger on the rear rack.
Plus, to make things even more interesting, these shots are all interspersed with artistic designs, strange kinetic wind art, penguin furries, crystal prisms, nature themes, and other seemingly random motifs that either point to the artistic whims of ALSO’s social media folks or are just random red herrings to confuse us further.
Basically, there are many clues, some of them seemingly contradictory, none of which really tell us that much more than we already knew, which is that ALSO is building personal electric vehicles of some unknown type.
The company says all will be revealed on October 22, so we’re on the edge of our seats waiting for that reveal. It could be a major shakeup in the industry, or the company could go the route of basically every other automotive company that tried to build an e-bike and failed miserably. Time will tell.
But there’s one thing I can say for sure. I’ve covered e-bikes longer than just about anyone else in this industry, and this is the weirdest freaking launch lead-up I’ve ever seen.
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Ford blamed slowing demand for electric vehicles after announcing plans to slash another 1,000 jobs at its Cologne EV plant in Germany.
Ford cuts jobs in Germany over weak demand for EVs
In a press release on Thursday, Ford announced plans to cut another 1,000 jobs at its plant in Cologne, Germany.
“In Europe, demand for electric cars remains well below industry forecasts,” the company said. Ford is blaming weak demand for EVs, saying it will move from a two-shift operation to a single-shift operation, starting in January.
The proposed plans from last year include cutting about 4,000 jobs in Europe by the end of 2027, or about 14% of its European workforce. The job cuts will be primarily in Germany and the UK as part of a broader restructuring. Tuesday’s announcement will raise it by another 1,000.
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Earlier this year, Ford faced a historic worker strike in Cologne that disrupted production. The news announced on Tuesday will likely affect vehicle production again.
Ford Explorer EV production in Cologne (Source: Ford)
Ford currently builds electric vehicles, including the Explorer and Capri, in Cologne, but it’s facing new competition from BYD and other low-cost EV makers from China.
Although Ford is blaming weaker-than-expected demand for EVs, according to the latest data from the European Automobile Manufacturers’ Association (ACEA), 1,011,903 battery electric vehicles (BEVs) were registered in the EU in the first seven months of 2025, led by increases in Spain (94.5%), Germany (59,2%), and Italy (60.3%).
Ford’s electric vehicles in Europe from left to right: Puma Gen-E, Explorer, Capri, and Mustang Mach-E (Source: Ford)
If you look at the most recent registration data from the German Federal Motor Transport Authority (KBA), Ford registered 10,924 BEVs in Germany through August, or less than 15% of the nearly 74,000 vehicles it sold.
The shortcomings come despite Ford investing nearly €2 billion ($2.4 billion) to upgrade the facility to produce electric vehicles. Ford also offers the Puma Gen-E, the electric version of its best-selling vehicle in Europe. It was the first EV to qualify for the full £3,750 ($5,000) discount from the UK’s recently launched Electric Car Grant program.
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